Number of active U.S. oil rigs up for first time in five weeks

Baker Hughes on Friday said the number of U.S. rigs drilling for oil rose by 17 over the past week, to 541, the first rise in oil-directed rigs in five weeks. The total U.S. rig count was unchanged week-over-week at 709.

The total rig count is 1,166 lower than a year ago, and there are 995 fewer oil-directed rigs operating.

The NYMEX crude oil price for U.S. crude was at $34.59 as of this writing, down 36 cents on the day but above the daily low of $34.29.

Oil pump oil rig energy industrial machine for petroleum in the sunset background